Hyundai Motor chief discusses EV cooperation with Indonesian minister

[Captured from Airlangga Hartarto‘s Facebook page]

Hyundai Motor Group Chairman Euisun Chung recently met with Airlangga Hartarto, Indonesia‘s Coordinating Minister for Economic Affairs, in Seoul to explore ways to cooperate on electric vehicle (EV) production and hydrogen initiatives in Indonesia.

Hartarto posted on his social media channel about his meeting with Chung on Monday, highlighting discussions on hydrogen projects using waste materials and the EV sector.

Stating that the Indonesian government is offering a range of incentives as part of its EV roadmap, Hartarto elaborated on discussions with Hyundai Motor Group regarding investments in electric vehicles, as well as the establishment of finished vehicle manufacturing facilities and battery cell plants.

Joining Chung at the meeting were Executive Vice President Kim Il-bum of Hyundai Motor Group’s Global Policy Office and advisor and former U.S. Ambassador to Korea Sung Kim. Prior to his tenure at Hyundai, former Ambassador Kim served as U.S. Ambassador to Indonesia.

Hyundai Motor Group has been actively expanding its investments in Indonesia, strategically positioning the country as a key hub within Southeast Asia.

As the most populous country in the region, Indonesia has a growing new car market of one million units per year with significant growth prospects.

In 2022, Hyundai Motor Group completed the construction of the first finished vehicle manufacturing plant in the ASEAN region in Indonesia. Currently, the plant is dedicated to producing EV models such as the Ioniq 5 and multipurpose vehicles (MPVs).

Hyundai Motor Group is in the process of establishing a joint battery cell plant in partnership with LG Energy Solution Ltd. The plant is expected to have an annual production capacity of 10 gigawatt hours (GWh).